New U.S. Census data has revealed a startling trend regarding San Antonio's renter population: The number of renters aged 65 and older has surged 24 percent over the last decade. There are more than 11,000 seniors currently renting their homes in the San Antonio metro.

A new renter population study by Point2Homes analyzed the latest Census data for renters across every age demographic in the 75 biggest U.S. metros. Nationally, the number of senior renters has increased by 2.4 million people over the last decade.

San Antonio-New Braunfels placed No. 62 in the ranking of U.S. metros with the highest growth rate in senior renters nationwide from 2013 to 2023.

The number of seniors renting single-family homes in San Antonio-New Braunfels has increased 12.8 percent since 2013, meaning nearly 2,300 San Antonians aged 65-plus are renting their homes.

Austin-Round Rock claimed the No. 1 spot with an 81.1 percent increase in senior renters statewide from 2013-2023, though the Texas Capital added only 23,446 senior renters during that time.

For comparison, Baton Rouge, Louisiana had the biggest surge of senior renters in the U.S. over the last decade with an 88.7 percent growth rate. However, New York-Newark-Jersey City in New York-New Jersey-Pennsylvania had the highest numerical growth in senior renters during that time, totaling 275,905 people.

The report adds that these seniors are shifting their priorities and "stepping away from the burdens of homeownership" in order to live closer to family, downsize, or cut costs to simplify their standard of living.

"A Harris Poll survey showed that the older crowd now has a lower threshold for interest rates when buying, meaning they’re more sensitive to the financial burden of a mortgage," the report's author wrote. "Downsizing from larger family homes, avoiding costs and upkeep tied to ownership, and prioritizing proximity to family or medical services are also among potential motivators for renting."

Point2Homes also points out that this "senior renter boom" can be linked to the (oddly named) trend of elderly "baby chasers," meaning grandparents who choose to relocate to be closer to their grandchildren.

Senior renter demographics in San Antonio
The report also analyzed San Antonio's share of renters based on age group. Predictably, the highest share (29.9 percent) of San Antonio's renter population is between the ages of 25-34, with the second highest share (20.6 percent) falling to residents aged between 35-44.

Only 9.5 percent of San Antonio's entire renter population is between the ages of 55-64, while 9.6 percent are seniors aged 65 and up. The metro's youngest demographic of renters, aged 18-24, only make up 16.8 percent of all San Antonio-area renters. That leaves the remaining 13.6 percent of San Antonio renters falling into the 45-54 age bracket.

Senior renters in other Texas metros
Austin-Round Rock had the third-highest growth rate in senior renters from 2013-2023 nationwide, while the growth rate in Dallas-Fort Worth-Arlington came out to 66.5 percent as the fifth-highest increase.

DFW also ranked as the metro with the second-highest growth rate in senior renters in Texas. The Metroplex gained 78,218 senior renters, making it the metro with the No. 1 highest numerical change in renters aged 65-plus in Texas.

Houston-The Woodlands-Sugar Land ranked 8th nationally with a 60.3 percent increase in senior renters, and the metro gained 63,749 senior renters during that time period, which was the fourth highest numerical increase nationwide.

The top 10 U.S. metros that had the highest increases in senior renters over the last decade are:

• No. 1 – Baton Rouge, Louisiana (88.7 percent)
• No. 2 – Jacksonville, Florida (83.7 percent)
• No. 3 – Austin-Round Rock, Texas (81.1 percent)
• No. 4 – New Orleans-Metairie, Louisiana (69.7 percent)
• No. 5 – Dallas-Fort Worth-Arlington, Texas (66.5 percent)
• No. 6 – Raleigh, North Carolina (63.5 percent)
• No. 7 – Bridgeport-Stamford-Norwalk, Connecticut (60.4 percent)
• No. 8 – Houston-The Woodlands-Sugar Land, Texas (60.3 percent)
• No. 9 – Lakeland-Winter Haven, Florida (54.1 percent)
• No. 10 – Charlotte-Concord-Gastonia, North Carolina-South Carolina (53.5 percent)